Currently developed by Binance Trust Wallet, it was originally conceived as a portfolio for Ethereum. Currently this purse allows to manage more than 40 different cryptocurrencies, along with total support for tokens belonging to 12 chains, among which we can highlight Ethereum, Binance and Ethereum Classi.
Explore DApps without leaving your wallet
Decentralized applications (DApps) are a novel way to interact with the web, but to use them, you need to have a plugin or extension of the web browser that synchronizes our portfolio with the application. But nevertheless, Trust Wallet allows you to enjoy the DApps experience without leaving the platform environment, Thanks to the integration of a web browser with support in Web3, from where you will have a complete catalog with the most famous DApps today. It also allows you to maintain an orderly gallery of all the collectible tokens you acquire, such as Cryptokitties, MLB Champions, among others.
Total control of your funds
Choosing a good portfolio can be frustrating, but regardless of your preferences, one that has security priority is necessary. The Trust Wallet portfolio gives us full control of our funds. So you will be the sole holder of the private keys of the crypto assets that you administer in it, be it a token or a cryptocurrency. The funds will be backed by a standard BIP39 moneonectic seed, which is created locally and without saving any data within the Trust Wallet servers.
What certifies that my funds are safe?
First, having a recovery seed, The responsibility for the security of the funds is transferred directly to us, since we will be the guarantors of safeguarding and keeping the only existing means of recovery safe. Although, some may ask, how do I know that the portfolio generation process is purely local? Well, given the Binance team's commitment to the community, this wallet is totally open source. Allowing both users and security experts to audit and verify its operation.
Clean interface
A problem with very advanced portfolios is information saturation. While it is great for advanced users to have all these options, for new and not so new users, a saturated interface can be annoying. That is why the Binance Trust Wallet portfolio delivers a clean and intuitive interface that does not neglect security.
Trust Wallet wallet features
- Open Source.
- Manage more than 40 different cryptocurrencies.
- Support tokens from more than 12 different networks.
- Attractive and intuitive design.
- WEB3 browser integration, which allows you to explore DApps from more than 7 different networks.
- Create a gallery to organize your collectible tokens.
Download and configure Trust Wallet
To start, and as advice for any wallet you intend to use, always go to the official wallet portal to obtain authorized links. So you avoid downloading fraudulent applications that could steal our funds or that they keep a copy of the recovery seed generated. Since there have already been precedents, as in the case of Atomic wallet.
To obtain the official links of the Trust Wallet portfolio we will go to its main portal.
The download options that we will have available will be:
- Download directly for MacOS and the APK installer for Androind.
- Download from the app store for either Android or iOS.
Now you just have to install your application and run it. In our case it will be from an Android device. However, the configuration process is the same for all operating systems.
Now we can start creating a new portfolio.
Create a new wallet in Trust Wallet
Creating a portfolio is quite simple. Let's start from the previous image, which is the first thing we will see when opening the purse for the first time. Here we will have two options that allow you to create a new portfolio or restore one from a recovery seed. Since we want to generate a new one, we will press on Create a new portfolio.
The message we see on the screen refers to the security we will provide to the recovery seed. Where we are advised not to save backups online, such as files in the cloud, or within our device, especially if you are connected to the Internet. Likewise, and as advice, the safest way to protect your recovery phrase is to write it down on a piece of paper and keep it in a safe place.
To continue, we will need to check the box below, where we accept that of losing the recovery seed there is no way to recover the funds from the Trust Wallet wallet.
In the next step we will be shown the recovery phrase. The application will block all types of screenshot as a security measure. So you will need to copy in an orderly manner the 12 words that make up your seed. Then, it will be necessary to confirm it to finally have our portfolio ready.
Now we just have to press on Fact and start using our Trust Wallet wallet.
Security settings
Already at this point we have the portfolio ready to be used. However, it is necessary to configure the security PIN that provides an extra layer of protection to our funds. Since, every time you open the application it will be necessary to enter this code
If your device has biometric security, it will be automatically configured once you have set the security code.
To start, we will need to go to the configuration menu from the bottom menu through the following icon.
Then, we will activate the option switch Access code.
Now we will have to add a 6-digit security PIN. Avoid as far as possible that the security code you enter is linked to your personal data, either date of birth, identification number or any other.
The next step is to confirm the security PIN and with this we will have our secure application.
Explore the Trust Wallet portfolio
Before using it, let's take a brief tour of the different modules that the Binance Trust Wallet offers.
Wallets
When opening for the first time we will meet in the section Wallet. From here we can see the cryptocurrencies and tokens that we own. By default, when starting Trust Wallet will generate 3 wallets belonging to Ethereum, Bitcoin and Binance.
At the top of the Portfolio section we have Tokens Y Collectibles, an organized gallery of collectible tokens that we have acquired in any DApp.
Add cryptocurrencies
To add a cryptocurrency or token to your portfolio listing, you will need to click on the following icon.
When opening we will see the complete list of the wallets that you can use in Trust Wallet.
To add you just press on the plus symbol "+" corresponding to the selected cryptoactive. In the case that you wish to remove any of this from the list, just click on the minus “-” symbol.
Add custom tokens
The Trust Wallet portfolio has a fairly complete list, one could say, of the most famous ERC20, ERC721 and BEP2 tokens on the market, belonging to the Ethereum and Binance networks respectively. But nevertheless, Within this wallet we can add custom tokens from 10 different networks In addition to the aforementioned. Among which are: Ethereum Classic, VeChain, Ontology and POA Network.
To add them we must go to the end of the cryptocurrency list, where we will see option Agregar a custom token.
Here, first of all, we will have to choose the network where the token we want to add is registered and click on the corresponding button. Then we will have to indicate its identification information, such as: contract address, name, symbol and the amount of decimals it handles.
To finish, we will press the option Fact, and if the information is correct, we can see the token reflected in our portfolio.
DApps
One of the main attractions offered by the Binance Trust Wallet portfolio is to be able to interact with DApps from the internal web browser.
These are organized by category, allowing us to discover the best and most popular DApps found today.
DEX
The internal decentralized exchange market of the Binance Trust Wallet portfolio is economical and secure. However, it only allows exchanges between cryptocurrencies such as ETH or BNB and the tokens supported by each network. So, cryptocurrencies like Bitcoin, Zcash, ethereum classic, or any other than those mentioned above, cannot be exchanged here.
Receive funds in the Trust Wallet portfolio
Receiving funds within Trust Wallet is quite simple. You only need to generate the public address corresponding to the cryptocurrency to receive.
In case you want to receive a token, you can share the public address of the corresponding networkFor example: if you want to receive EtherCash, an ERC20 tokens, you must share the Ethereum address. If instead you need to receive BTCB, a BEP2 tokens, you will have to share the Binance address. This applies to all networks that the Trust Wallet portfolio supports.
However, to avoid any confusion, every time you want to receive a particular token, go directly to the portfolio and generate the corresponding public address. So you avoid being aware of which network each one belongs to and which address you should generate.
Now, to generate a public address, you will need to select the corresponding cryptocurrency or token from the module Wallet.
To copy the portfolio you have two options: select the button Copy which will automatically add your wallet address to the clipboard or select To receive.
Here you can see, together with the public address of your portfolio, the abstraction of it in QR code. In addition to this we will have options such as Set Amount, which allows the redundancy to be worth setting a quantity to receive, which will generate a new QR code that, when scanned, will automatically place the amount to send.
Upon receipt of a transaction, it will appear immediately in the transaction history within the selected portfolio.
Send funds in the Trust Wallet
Sending funds in the Trust Wallet is not complicated. Let's start by choosing the cryptocurrency or tokens we want to send. In our case it will be Ethereum where we will choose the option Submit.
To send all you need is to place or scan the destination address along with the amount to be sent. With respect to the latter, it can be set either in the fiat currency you have set up or in the denomination of the tokens or cryptocurrency.
Always remember to verify that the amount and destination address are correct, because the transactions are irreversible.
To continue we will need to press on Following where before making the shipment, the Trust Wallet portfolio shows us a confirmation of the operation we are about to perform. In which, just press on Submit and we will have made a shipment successfully.
Explore DApps in True Wallet
Without a doubt, being able to explore DApps without leaving our portfolio is great news. This is because one of the main problems we face When using a traditional web browser to use a decentralized application is the lack of security and privacy. Since, we can be victims of fraudulent applications.
To try to avoid this, wallets like Metamask try to create a blacklist of sites pishing or fraudulent seek to get our funds. However, the vulnerability may still be latent, as new applications are coming to the market every time.
Because of that, The Trust Wallet portfolio integrates its own browser that allows you to use decentralized applications without leaving the security of the portfolio at any time. Keeping our private keys hidden and secure.
Another aspect that is worth noting is that, from the Trust Wallet browser itself, you can interact with DApps belonging to 7 different networks, among which Ethereum, Ethereum Classic and Callisto stand out.
That said, we can explore the application market from the menu DApps in the lower menu.
DApps are organized by categories. However, you can search for the application of your choice from the top bar or enter the direct URL of your web portal.
Open dapps in True Wallet
Once you have chosen which DApps you want to open – in our case Compound – you must click on it.
The first thing is to verify that we are in the correct network of the application as such. To do this, in the upper right corner we will see the symbol corresponding to the network in which we are connected. Where in our case is Ethereum.
And with that, we can already use the DApp without any exchange.
Decentralized exchanges in the Trust Wallet portfolio
Within Binance Trust Wallet we can find a fully decentralized exchange market, own of the platform. However, this is a bit particular: In the first instance you can only make exchanges between Ether and ERC20 tokens as with BNB and its BEP2 tokens or between tokens of the same network. It is not possible to exchange between cryptocurrencies directly.
Now, to access the exchange market you must press on the DEX menu.
Here you will need to indicate the torque to be exchanged. You must remember that you can only make exchanges between cryptocurrencies and tokens of the same network.
In our case, we will choose to exchange ETH for WETH, an ERC20 token. We will place the amount and press on following.
Finally, it will be necessary to verify the exchange information. Keep in mind that in this exchange the commission charged corresponds to the network fee, since the process is executed directly in a smart contract. Once confirmed, we can see the funds available in our portfolio.
Restore wallet
Trust Wallet is a deterministic wallet, which means it depends on a recovery seed to generate the private keys it stores. This seed is composed of 12 words in English, and it is the only means that exists to recover the funds that you store within it.
So, if you want to recover your wallet, the first thing is to have your recovery seed, then you must install Trust Wallet and select the option I already have a wallet.
But, if your intention is to add the portfolio on an existing one within the application, you must go to the configuration menu and choose the option Wallets.
The list you see here corresponds to all the existing portfolios within the application. Now, to add a wallet from a recovery seed you will have to press on the “+” icon in the upper right corner, which will open the initial screen you saw when you first opened the wallet, from where you will have to choose the option I already have a wallet.
Here you will have to select the type of portfolio to import. If in your case you want to fully import a wallet where you have multiple currencies, select the option Multi-coin wallets. Trust Wallet makes it easy to import either a private key, a public address, a JSON file or a recovery phrase of a particular cryptocurrency or token.
In our case, since we will restore a complete Trust Wallet wallet, we will select over Multi-Coin Wallets. Where, to import, it will only be necessary to enter the recovery phrase, we press on import, and we will already have our funds available to use.
Conclusions on the Trust Wallet portfolio
It is worth noting how easy it is to use this wallet. Since you install it, adapting to it is quite simple and comfortable, even for users with little knowledge about cryptocurrency wallets.
Another interesting aspect is that you can not only manage cryptocurrencies, but a full range of tokens from famous networks such as Ethereum or Binance and including another 10 different cryptocurrency networks.
The administration of DApps is another highlight. Not only because it allows you to integrate your own browser to give us greater security, but also because it allows you to explore decentralized applications from other networks, a rare aspect in the multi-currency portfolios of the current marketl.
With respect to the negative points, one could say that it does not possess any. Being backed by a giant like Binance, it is a portfolio with an excellent development that gives a very good user experience.
In conclusion, the Trust Wallet wallet easily takes an 8.5 / 10 as a final note. A perfect score is not taken because it is not completely multiplatform. But we can be sure that Binance is already working on that aspect.
Source link
https://www.criptonoticias.com/tutoriales/trust-wallet-monedero-criptomonedas-multifuncional-binance/
